FY 2009 RESULTS Bologna November 11, 2011 Road Show presentation September 2019 \
This presentation does not constitute an offer or an invitation to subscribe for or purchase any securities. The securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitatio n would require the DISCLAIMER approval of local authorities or otherwise be unlawful. The securities may not be offered or sold in the United States or to U.S. persons unless such securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Copies of this presentation are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan. This presentation contains forwards-looking information and statements about IGD SIIQ SPA and its Group. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding plans, performance. Although the management of IGD SIIQ SPA believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of IGD SIIQ are cautioned that forward-looking information and statements are subject to various risk and uncertainties, many of which are difficult to predict and generally beyond the control of IGD SIIQ; that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, but are not limited to, those contained in this presentation. Except as required by applicable law, IGD SIIQ does not undertake any obligation to update any forward-looking information or statements
Index 1. INTRODUCTION TO IGD 4 2. OPERATING DATA 13 3. SUSTAINABILITY 26 4. FY2018 + 1H2019 FINANCIAL RESULTS 31 5. STRATEGIC PLAN 2019-2021 39 6. APPENDIX 66 3
Introduction to IGD Conè - Conegliano
IGD at a glance IGD is one of the main players in the Italian retail real estate sector: we develop and manage shopping centres across the country. We are also present in the retail sector in Romania 25 hyper / 14 shopping 26 shopping malls Development supermarkets c. € 2.4bn portfolio value malls in Romania in Italy (1) & others (2) in Italy 6% of value 65% of value 4.% of value 24% of value Of which full ownership of 16 shopping centres (mall + hypermarket) EPRA NNNAV: € 1,190M 5.4% EPRA NIY 5.4% net initial yield topped-up € 10.78/share #1 Italian Retail SIIQ (REIT) 80.0% EBITDA margin (3) FFO/share: € 0.72/share (FY2018) +260 bps since 2014 (77.4%) 23% CAGR over 2014-2018 48.2 % LTV Dividend 2018 96.6% financial occupancy % % (excl.IFRS16 c. 47%) € 0.50 Constantly > 96% since IPO (2005) Target 2021 < 45% (p.s. paid in 2019) Data as at 30/06/2019 unless differently indicated 5 (1) 27 including 50% owned Darsena City shopping centre (2) Includes mainly the Porta a Mare project in Livorno (3) Margin from freehold properties
An intense growth journey to reach a suitable size... Real estate portfolio market value € mn Interesting growth Disposals (at book opportunities seized value or higher values) on the market and change in fair value Extraordinary investments for the acquisition of 10 Completed an assets important pipeline Average yield > 6.5% Openings: 9 shopping malls 5 hypermarkets (1) A decade of intense growth to reach an ideal size and leadership in Italy 6
Our business model A distinctive competitive positioning in the fragmented Italian retail property market Large portfolio of retail property assets with a strong customer base 1 generating sound and visible revenues and growing cash flows A unique control on 16 Shopping centres (mall + hypermarket) for a more simple and 2 swifter day-to-day management Presence throughout Italy but mainly focused on strategic areas 3 in North and Central Italy, featuring average GDP per capita above EU average Medium sized and easily accessible shopping centres : in line with Italy’s geographical 4 structure which is characterized by medium sized cities and provinces Presence of a strong food anchor (COOP), intimately integrated in the Italian territory, 5 contributes to keep a high and steady level of footfalls Strong track-record of direct management : proactive approach, carefully selected merchandising 6 mix, marketing activity adapted to each context and wide offer of customer related services 7 Low exposure to commercialization risks related to development activities 7
Our shareholding structure Listed on the Italian Stock Exchange in the STAR segment (“high requirements ”) Coop • Number of shares : 110,341,903 Alleanza 3.0 40.92% • Share Capital : about € 750 mn Free float • Net Equity : about 1.2 bn € (30/06/2019) 47.05% • Market Capitalization : about € 700 mn Unicoop (average market price 01/07/2018-30/06/19) Tirreno 12.03% • Average daily trading: about 147,572 shares (01/07/2018-30/06/19) Freefloat equal to 47.05%, majority of institutional investors , of which (1) 27% 27% 14% 6% 7% 19% US & Canada UK & Ireland Italy France Luxembourg Rest of the World Black Rock GWM Lyxor a.m. Netherlands UBS Mediolanum Vanguard Baillie Gifford Coop Lombardia Aviva Belgium Codan Forsikring ….. ….. Eurizon ….. Lupus Alpha Bayern Invest ….. Stichting ….. pension fund.. 1. Internal processing on Bloomberg data as at July 26th 2019 8
Key data of the entire Coop world and of our two main Shareholders 7 LEGAL ENTITIES THROUGHOUT ITALY 17 Regions covered by Coop * * Revenues ~ 4,1 bn € ~ 960mn € Revenues ~ 4,5 bn € ~ 1 bn € N ° of stores N ° of stores ~421 ~421 ~100 ~100 Employees >22,000 3,650 >22,000 3,855 Employees ~ 647,000 Members ~ 2.2 million ~ 674,000 Members ~ 2.3 million Deposits from members ~ 3.6 bn € ~ 633 mn € ~ 3.9 bn € ~ 700 mn € Deposits from members Coop world key data*: strategic investments in listed companies: Turnover ~ 14.7 bn € (13.6% of italian large scale retail) UNIPOL GRUPPO FINANZIARIO No. of stores: ~ 1,200 (Insurance and banking) Employees ~ 52,000 IGD SIIQ SPA Members ~ 6.7 million people * data as at 31/12/2018 • 9 Sources: Coop Alleanza 3.0 and Unicoop Tirreno financial reports, www.e-coop.it and Rapporto COOP 2018 • Coop Alleanza is the merger of Coop Adriatica; Coop Estense; Coop Consumatori Nordest
Governance - the Board of Directors On 1 June 2018 the Sharheolders ’ Meeting appointed the new Board of Directors (in office until the approval of the 2020 full year results) Chairman - CONFIRMED Chief Executive Officer CONFIRMED FOURTH MANDATE Number of directors further reduced (from 13 to 11) Independence - professional competence - international profile as main characteristics Specific expertise in the real estate, retail, legal and financial fields 63.6% Male (7 ) 63.6% Independent (7) 36.4% Non Independent (4) 36.4% Female (4) 10
Governance - Directors and Committees IGD’s governance has been in line with the criteria of the Self Regulatory Code of Italian Stock Exchange since it was listed . An internal Corporate Governance Code has been in use since 2008. CHAIRMAN CEO EXECUTIVE Elio Gasperoni Claudio Albertini VICE CHAIRMAN Eric Jean Veron Sergio Lugaresi Timothy Santini Rossella Saoncella INDEPENDENT Vailog - General Manager Consultant - ABI, EBA, IMF Former Eurocommercial Head of Granarolo Italian activities Former General Manager Livia Salvini Elisabetta Gualandri Luca Dondi Dall’Orologio Lawyer Università di Modena - Professor Nomisma - CEO Università LUISS di Roma - Professor NON EXECUTIVE Alessia Savino Gian Maria Menabò NON INDEPENDENT Unicoop Tirreno Coop Alleanza Head of Finance and Asset Management Head of Asset Management and Development COMMITTEES: Nominations and compensation Committee Control and Risks Committee Committee for Related Parties Transactions INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM Held by the Chairman, including the Internal Audit and Risk Management 11
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